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at issue, the $800 billion in new tax revenue he proposed in a fiscal cliff deal which the white house quickly rejected because it does not raise taxes on the wealthy but aims to get the money through cuts in deductions. senator jim demint denounced boehner's plan as a tax hike that will, quote, destroy american jobs and allow politicians in washington to spend even more. senate minority leader mitch mcconnell also distanced himself from the boehner plan declining to endorse it yesterday. >> we've wasted enormous amount of time here sparring back and forth in public, and it strikes me it's a good time to get serious about the proposals. so i have no other particular observation than i commend the house republican leadership for trying to move the process along and getting to a point where hopefully we can have a real discussion. >> but why is the the gop still hot on its desire to raise money through cuts and deductions rather than an actual increase in the top end tax rate? well, i think it's likely because the most ductions in states happen to be the higher blue states. in other word
at issue, the $800 billion in new tax revenue he proposed in a fiscal cliff deal which the white house quickly rejected because it does not raise taxes on the wealthy but aims to get the money through cuts in deductions. senator jim demint denounced boehner's plan as a tax hike that will, quote, destroy american jobs and allow politicians in washington to spend even more. senate minority leader mitch mcconnell also distanced himself from the boehner plan declining to endorse it yesterday....
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Nov 29, 2012
11/12
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this is the deal on the fiscal cliff. tax increase now, delay spending cuts, don't worry about the debt. judge napolitano: i wrote a piece this morning on the washington times and a number of venues. argues the republicans probably will cave. notwithstanding the pledge they took, just a political pledge, not legally -- i don't want them to raise taxes but they will. they should remember the peril of recent history. the last american president who said who could forget this? read my lips, no new taxes was dispatched by the voters to a hotel room in houston rather than four more years in the white house because he violated that pledge. george herbert walker bush would keep that pledge today. stuart: always a pleasure. we say it every day on "varney and company," time is money. we mean it. i especially mean it. my take on punctuality next. twins. i didn't see them coming. i have obligations. cute obligations, but obligatio. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core,
this is the deal on the fiscal cliff. tax increase now, delay spending cuts, don't worry about the debt. judge napolitano: i wrote a piece this morning on the washington times and a number of venues. argues the republicans probably will cave. notwithstanding the pledge they took, just a political pledge, not legally -- i don't want them to raise taxes but they will. they should remember the peril of recent history. the last american president who said who could forget this? read my lips, no new...
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wall street investors are waiting for a fiscal cliff deal. stocks were unchanged. the dow lost 13 points while the nasdaq was down five points. bank profits are getting bigger. the financial industry earned $37.6 billion in the third quarter. that's an increase of more than 6% and it could lead to more lending. there's good news on the housing front. a survey shows housing prices were up more than 6% in october. that's the best gain in six years. starting in 2016 the disney characters are coming to netflix. they landed exclusive rights to stream disney movies before they air on cable networks. netflix will get some of disney's classic movies. no financial terms of the deal were released. and just in time for the holidays, starbucks is introducing a $454 gift card. the card is made of etched steel. comes with $400 on it. the reason why it's $450? it costs $50 just to make the card. there will be only 5,000 available and they will only be sold on the website gilt.com. the card comes with a gold level starbucks membership for $400 you can buy 57 cups of starbucks new
wall street investors are waiting for a fiscal cliff deal. stocks were unchanged. the dow lost 13 points while the nasdaq was down five points. bank profits are getting bigger. the financial industry earned $37.6 billion in the third quarter. that's an increase of more than 6% and it could lead to more lending. there's good news on the housing front. a survey shows housing prices were up more than 6% in october. that's the best gain in six years. starting in 2016 the disney characters are...
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Nov 30, 2012
11/12
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. >> the fiscal cliff deal, charles krauthammer is talking about it. he calls it quote insulting. >> it's not just a bad deal. what geithner offers on the street robert e. lee was offered easier terms and he lost the civil war. democrats won by 3 percent of the voeft and they did not hold the house. republicans won the house. this is not the condition of surrender but that's what the administration is asking the republicans. they are not only cuts there are increase in spending with a new stimulus. this is almost unheard of. what do they expect? they obviously expect they will cave on everything. i think they ought to simply walk away. the president is the president. he is the leader. they are remanning republicans explain all of the cuts they want to mac. we had that movie a year and a half ago where paul ryan presented a budget a serious real budget with real cuts, obama was supposed to give a speech in which he would respond with a counteroffer. he gave a speech we had ryan sitting in the front row. he called the ryan proposal unamerican offered not
. >> the fiscal cliff deal, charles krauthammer is talking about it. he calls it quote insulting. >> it's not just a bad deal. what geithner offers on the street robert e. lee was offered easier terms and he lost the civil war. democrats won by 3 percent of the voeft and they did not hold the house. republicans won the house. this is not the condition of surrender but that's what the administration is asking the republicans. they are not only cuts there are increase in spending with...
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Nov 30, 2012
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insist any fiscal cliff deal includes a raising of the debt ceiling or they're going to say, we want the power to raise the debt ceiling. you know, i think that might actually end up being a big sticking point of the negotiation. >> understandably they see it as the biggest point of leverage. >> it also seems to me the tone is moving in the wrong direction. after the -- right after the election, there was a little bit of recrimination, a little like well, boehner sounded getting squishy and what's happened over the succession of weeks since then, as he's meeting with the caucus, there's a hardening. in terms of -- >> or a disbelief -- a disbelief -- >> comes out and says stuff like that, you read some of the local papers, these people rshs it. >> are telling their local paper we're in a bad negotiation position here. >> the problem is, had he's probably a guy that's going to -- boehner will still be dealing with after january 3rd. in the lame duck congress it's still the same congress and boehner still has to message to those people because he still has to gets the gavel back in janu
insist any fiscal cliff deal includes a raising of the debt ceiling or they're going to say, we want the power to raise the debt ceiling. you know, i think that might actually end up being a big sticking point of the negotiation. >> understandably they see it as the biggest point of leverage. >> it also seems to me the tone is moving in the wrong direction. after the -- right after the election, there was a little bit of recrimination, a little like well, boehner sounded getting...
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Nov 30, 2012
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cliff deal. >> as i told the president a couple weeks ago, there's a lot of things i've wanted in my life, but almost all of them had a price tag attached to them. i continue to believe that any increase in the debt limit has to be accompanied by spending reductions that meet or exceed it. >> asking that a political price be paid in order for congress to do its job to ensure that the united states of america pays its bills and does not default for the first time in its history is deeply irresponsible. it was deeply irresponsible in the summer of 2011, and it would be deeply irresponsible if we were to see that kind of approach taken again. >> with boehner calling on the white house to lay out specific spending cuts, senate majority leader harry reid offered his own response to the house speaker. >> he says that democrats have got to get serious about cuts, spending cuts. where's the disconnect, then? >> i don't understand his brain, so you should ask him. okay? >> huh. don't understand his brain. i don't understand your senate that hasn't produced a budget in, what, three, four years
cliff deal. >> as i told the president a couple weeks ago, there's a lot of things i've wanted in my life, but almost all of them had a price tag attached to them. i continue to believe that any increase in the debt limit has to be accompanied by spending reductions that meet or exceed it. >> asking that a political price be paid in order for congress to do its job to ensure that the united states of america pays its bills and does not default for the first time in its history is...
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Nov 29, 2012
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>> at the top of the wish list, a deal to a voice sending the economy over the fiscal cliff. >> my hope is to get this done before christmas. >> today, the president joined by middle income earners reaching out to the administration about keeping taxes low. >> if congress does nothing, every family in america will see their taxes go up at the beginning of next year. >> the white house is urging americans to use social media to push congress to act. keying in on $2000 tax increase going into affect next year for the average family of four. >> what is that again? my two? k. tweet use, my 2 k or e mail. post it on member of congress's facebook wall. do what it takes to communicate a sense of urgency. >> they may not agree on details but house speaker john boehner and house minority leader agree on one thing. failure is not on the table. >> going over fiscal cliff will hurt our economy. >> boehner said republicans are committed to a compromise. >> rinz are willing to put revenue on the table. >> so hard ball politics were left to house majority leador eric cantor complaining the white house
>> at the top of the wish list, a deal to a voice sending the economy over the fiscal cliff. >> my hope is to get this done before christmas. >> today, the president joined by middle income earners reaching out to the administration about keeping taxes low. >> if congress does nothing, every family in america will see their taxes go up at the beginning of next year. >> the white house is urging americans to use social media to push congress to act. keying in on...
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a coalition of the nation's top c.e.o.s is feeling pessimistic about getting a fiscal cliff deal.
a coalition of the nation's top c.e.o.s is feeling pessimistic about getting a fiscal cliff deal.
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speak, roughly what size spending cuts do you think it would take to reach a deal on the fiscal cliff and do you think that at least the promise of spending cuts has to be included in this level of deal at this time? >> i don't think it's productive for either side to what i out hard lines in terms of what the size of the spending cuts ought to be. there are a lot of options on how you can get there. but the second part of your question was -- >> my question is do you think the promise of spending cuts has to be included in the deal that overts a fiscal cliff. >> there is a framework that we presented to the white house two weeks ago. the framework has been agreed to in terms of really a down payment on the end of this year. that would include spending cuts and it would include revenue. setting up a process for entitlement reform next year and tax reform next year. but this is way out of balance. and not recognition on the part of the white house about the serious spending problem that we have. >> based on the procespect of going over the fiscal cliff which you just called serious bus
speak, roughly what size spending cuts do you think it would take to reach a deal on the fiscal cliff and do you think that at least the promise of spending cuts has to be included in this level of deal at this time? >> i don't think it's productive for either side to what i out hard lines in terms of what the size of the spending cuts ought to be. there are a lot of options on how you can get there. but the second part of your question was -- >> my question is do you think the...
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Dec 4, 2012
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when are we going to have a loaded fiscal cliff deal? [ telephones ringing ] at chevy's year-end event, we have 11 vehicles that offer an epa-estimated 30 mpg highway or better. yeah? hey. hey. where's your suit? oh, it's casual friday. oh. [ male announcer ] chevy's giving more. now get a 2013 malibu ls for around $199 per month, plus competitive lessees can get $1,000 toward the down payment for an even better deal. thank you, mr. speaker, uh, members of congress. in celebration of over 75 years of our government employees insurance company, or geico...as most of you know members it.congress. ...i propose savings for everyone! i'm talking hundreds here... and furthermore.. newscaster:breaking news. the gecko is demanding free pudding. and political parties that are actual parties!? with cake! and presents! ah, that was good. too bad nobody could hear me. geico. fifteen minutes could save you fifteen percent or more on car insurance. you won't take our future. aids affects us all. even babies. chevron is working to stop mother-to-child
when are we going to have a loaded fiscal cliff deal? [ telephones ringing ] at chevy's year-end event, we have 11 vehicles that offer an epa-estimated 30 mpg highway or better. yeah? hey. hey. where's your suit? oh, it's casual friday. oh. [ male announcer ] chevy's giving more. now get a 2013 malibu ls for around $199 per month, plus competitive lessees can get $1,000 toward the down payment for an even better deal. thank you, mr. speaker, uh, members of congress. in celebration of over 75...
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Dec 6, 2012
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cliff deal because it's unlikely that house republicans would allow these to appear freestanding. using these as leverage in terms of negotiation. house republicans could sleep fine knowing the payroll tax cut is not extended and the ui is not extended. they think that's too much spending. >> which is crazy because they're arguing for the top earners really putting their stake in the ground on top earners and when it comes to working class and poor tax cuts are a bad thing. >> the payroll tax cut there's a division between democrats about how much you want to raid the social security trust fund. but unemployment insurance, i think absolutely has to be part of the deal from the white house perspective aside from it fitting the democrat ex-ideology, it's also what president obama believes is a stimulus to the economy. >> yeah. >> that helps people have disposable income to go to restaurants, buy gas, buy food, to pay things for their children. and i would be very surprised if it ended up as part of the larger deal because it's not going to come in early spring. >> one of the things
cliff deal because it's unlikely that house republicans would allow these to appear freestanding. using these as leverage in terms of negotiation. house republicans could sleep fine knowing the payroll tax cut is not extended and the ui is not extended. they think that's too much spending. >> which is crazy because they're arguing for the top earners really putting their stake in the ground on top earners and when it comes to working class and poor tax cuts are a bad thing. >> the...
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. >>> the latest on that fiscal cliff. everyone's taxes set to go up in just 27 days if congress and the white house can't strike a deal. and publicly, at least, president obama is taking a harder line with every day that goes by. abc's jake tapper is covering it all from the white house. and it's clear that president obama believes he has the upper hand here. >> reporter: he sure does, george. and later today, president obama will speak to corporate executives at the business roundtable. and he'll try to enlist their help in his negotiations with congressional republicans. and his latest demand, that congress remove its own power as it stands right now, to raise the debt ceiling. it is a bold gambit that congressional republicans are already calling a non-starter. paul ryan stepped back into the spotlight late tuesday, with a feisty shot at the president. >> i congratulate him on his victory. but on january 20th, he'll face a stagnant economy and a fiscal mess. you might even say he'll inherit these problems. >> reporter:
. >>> the latest on that fiscal cliff. everyone's taxes set to go up in just 27 days if congress and the white house can't strike a deal. and publicly, at least, president obama is taking a harder line with every day that goes by. abc's jake tapper is covering it all from the white house. and it's clear that president obama believes he has the upper hand here. >> reporter: he sure does, george. and later today, president obama will speak to corporate executives at the business...
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cliff deal in washington. the dow jones industrial average gained more than 82 points to close at 13,034. but the nasdaq fell nearly 23 points to close at 2,973. the day's big loser was apple, down more than 6% over concerns that smart phone sales are lagging. former texas congressman jack brooks has died. he served 42 years in the house, and was in the dallas motorcade on november 63nd19, hen19 president kennedy was assassited. hours lates bokrowadonan hok as vice president andel fw texan lyndon johnson was sworn in to the presidency. later, brooks helped author the 1964 civil rights act, and he drafted the articles of impeachment against president nixon. jack brooks was 89 years old. those are some of the day's major stories. now, back to gwen. >> ifill: lawmakers stepped up the rhetoric, but grew no closer today to agreement on how to avoid slipping over the so- called fiscal cliff. but each side demanded the other compromise. "newshour" congressional correspondent kwame holman begins our coverage. >> i hav
cliff deal in washington. the dow jones industrial average gained more than 82 points to close at 13,034. but the nasdaq fell nearly 23 points to close at 2,973. the day's big loser was apple, down more than 6% over concerns that smart phone sales are lagging. former texas congressman jack brooks has died. he served 42 years in the house, and was in the dallas motorcade on november 63nd19, hen19 president kennedy was assassited. hours lates bokrowadonan hok as vice president andel fw texan...
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. >>> we're turning to the high stakes stalemate some washington over the fiscal cliff. everyone's taxes go up. massive spending cuts take hold in just 29 days if the white house and congress can't reach a deal. and they are barely talking right now. abc's jon karl has the latest. good morning, jon. >> reporter: good morning, george. with less than a month to go, the two sides are as far apart as they have ever been. overnight, the president released a new campaign-style video aimed squarely at republicans. >> we need to get tax relief to working families. >> reporter: this morning, about the only thing that the two sides agree on is that going over the so-called fiscal cliff would be a big blow to the economy. >> it would be very damaging to average americans. there's no doubt about it. >> going over the cliff will hurt our economy, will hurt our job creation in our country. it's not fair to the american people. >> reporter: without a deal to cut the deficit, almost everybody's income taxes will go up january 1st. it's more than that. there will be automatic cuts to def
. >>> we're turning to the high stakes stalemate some washington over the fiscal cliff. everyone's taxes go up. massive spending cuts take hold in just 29 days if the white house and congress can't reach a deal. and they are barely talking right now. abc's jon karl has the latest. good morning, jon. >> reporter: good morning, george. with less than a month to go, the two sides are as far apart as they have ever been. overnight, the president released a new campaign-style video...
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how they deal with the fiscal cliff. this could prove to be a very fork in the road. the her teenage foud in yesterd. south carolina senator stkwr*eupl demint who is leading the senate to head up heritage foundation has issues with what john boehner has been doing. it's all about this counter offer to the president on tax increases. the conservative blog red state went after him. freedom works which backs tea party groups and the club for growth is really the big one. they spent $10 million going after republicans who they thought weren't conservative enough in the last election. listen to what they have to say about john boehner now. >> when he couples this conservative purging with a negotiated tax increase of $800 billion we are starting to see more and more signs that he's not dedicated to fiscally conservative beliefs. >> reporter: mr. roth said if he doesn't watch it he can lose his speakership and there are others in the city talking about what they can do to reign in the g.o.p. leadership as a group from raising taxes after republicans spent the last year on t
how they deal with the fiscal cliff. this could prove to be a very fork in the road. the her teenage foud in yesterd. south carolina senator stkwr*eupl demint who is leading the senate to head up heritage foundation has issues with what john boehner has been doing. it's all about this counter offer to the president on tax increases. the conservative blog red state went after him. freedom works which backs tea party groups and the club for growth is really the big one. they spent $10 million...
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Nov 30, 2012
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wall street initially fell after house speaker boehner said there'd been no progress on a fiscal cliff deal. but stocks rose later, on news that the economy grew at an annual rate of 2.7% in the third quarter. the dow jones industrial average gained more than 36 points to close well above 13,021. the nasdaq rose 20 points to close at 3,012. the united nations general assembly voted today to recognize palestine as a non- member observer state. the tally was 138 to nine, with 41 abstentions. the u.s. voted no. it came after palestinian president mahmoud abbas appealed to the world body to issue the birth certificate of palestine. >> we did not come here seeking to delegitimize a state established years ago, and that is israel. rather, we came to affirm the legitimacy of a state that must now achieve its independence, and this is palestine. >> sreenivasan: palestinians said the vote would strengthen their hand in future peace talks with israel. but the israeli ambassador to the u.n., ron prosor, warned that the palestinians are turning their backs on peace. >> for as long as president abb
wall street initially fell after house speaker boehner said there'd been no progress on a fiscal cliff deal. but stocks rose later, on news that the economy grew at an annual rate of 2.7% in the third quarter. the dow jones industrial average gained more than 36 points to close well above 13,021. the nasdaq rose 20 points to close at 3,012. the united nations general assembly voted today to recognize palestine as a non- member observer state. the tally was 138 to nine, with 41 abstentions. the...
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. >>> with a few weeks until the year end fiscal cliff there is still no deal in sight. both sides are showing no signs of budging. kelly wright is live in washington with details for us. >>> less than month ago for tax hikes. they automatically place democrats and republicans are further apart on a the plan. tim geithner changed the plan last week. that plan calls for 1.6 trillion of higher taxes over the next decade $50 billion stimulus package and provide 600 billion in spending cuts. he is waiting for root pe kaub cans to respond to the plan for the president's proposal. >> we think that's a good set of proposals and good for the economy. if they have different suggestions they should slay it out to us. >> republican leaders should make the deeper cuts on medicare, medicaid and social security. as for raising taxes on the wealthy, republicans want a great higher revenue for closing loopholes and limiting deductions not a tax hike. they are not pleased with the president's proposal. >>> i was flabber fasted. i looked at them said you can't be serious. i have never see
. >>> with a few weeks until the year end fiscal cliff there is still no deal in sight. both sides are showing no signs of budging. kelly wright is live in washington with details for us. >>> less than month ago for tax hikes. they automatically place democrats and republicans are further apart on a the plan. tim geithner changed the plan last week. that plan calls for 1.6 trillion of higher taxes over the next decade $50 billion stimulus package and provide 600 billion in...
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Nov 30, 2012
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. >>> now, the stalemate in washington over the fiscal cliff. everyone's taxes are set to go up in just over a month if congress and the white house fail to reach a deal. and the talks blew up yesterday, after republicans dismissed the latest offer from secretary tim geithner. just listen to house speaker john boehner and senate majority leader, harry reid. >> listen this is not a game. jobs are on the line. the american economy is on the line. and this is a moment for adult leadership. >> i don't understand his brain. so, you should ask him. okay? >> tough words there. abc's jon karl is covering this all from capitol hill. jon, as we said, senate republican leader mitch mcconnell says he laughed out loud at geithner's offer. break down the offer from the white house and the republican objections. >> reporter: not only did he laugh out loud, the speaker saying it's unrealistic. the key is $1.6 trillion in tax increases over the next ten years. $50 billion in additional stimulus spending. $400 billion in medicare cuts. but unspecified over the ne
. >>> now, the stalemate in washington over the fiscal cliff. everyone's taxes are set to go up in just over a month if congress and the white house fail to reach a deal. and the talks blew up yesterday, after republicans dismissed the latest offer from secretary tim geithner. just listen to house speaker john boehner and senate majority leader, harry reid. >> listen this is not a game. jobs are on the line. the american economy is on the line. and this is a moment for adult...
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cliff at year's end. it would raise the eligibility for medicare lower. but the plan would keep all bush-era tax cuts in place, including those for the wealthy. the president says that is a deal-breaker. >>> and the editor in chief at "vogue" magazine could become a top debit. bloomberg reporting that president obama may nominate anna wintour, as the next ambassador to either britain or france. she was among the president's top campaign fund-raisers. >>> and this morning, a powerful teachers union is trying to raise the bar for teachers, calling for a tough, certification test, not unlike the bar exam for lawyers. the federation of teachers want to maintain a 3.0 grade point average and have ten hours of field experience. sound like good ideas. >>> the flu season has arrived already. the earliest in nearly a decade. officials are warning the primary strain making the rounds right now is more severe than others, especially for the elderly. >>> finally, a reminder. never a good idea to show off. a man who w
cliff at year's end. it would raise the eligibility for medicare lower. but the plan would keep all bush-era tax cuts in place, including those for the wealthy. the president says that is a deal-breaker. >>> and the editor in chief at "vogue" magazine could become a top debit. bloomberg reporting that president obama may nominate anna wintour, as the next ambassador to either britain or france. she was among the president's top campaign fund-raisers. >>> and this...
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Nov 29, 2012
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signs, perhaps, of a potential compromise there to avoid the so called fiscal cliff that would raise taxes on a typical american family by some $2,200. republican congressman tom cole, of oklahoma, is urging republicans to accept president obama's deal and allow the bush-era tax cuts on the wealthy to expire for now. so tax cuts for the middle class can stay in effect. but house speaker john boehner remains opposed, saying a tax hike on the wealthy will hurt the economy. >>> today, president obama is hosting mitt romney at the white house for a private lunch. after the election, the president promised to reach out to romney for his ideas. >>> and overseas, the u.s. could be getting more involved in the civil war in syria. "the new york times" is reporting the obama administration is considering options, including arming the rebel fighters there who have made progress in recent days in battling bashar al assad's forces. >>> and more trouble for president obama's expected nominee for secretary of state. susan collins says she will not back rice for the job, until more questions on the
signs, perhaps, of a potential compromise there to avoid the so called fiscal cliff that would raise taxes on a typical american family by some $2,200. republican congressman tom cole, of oklahoma, is urging republicans to accept president obama's deal and allow the bush-era tax cuts on the wealthy to expire for now. so tax cuts for the middle class can stay in effect. but house speaker john boehner remains opposed, saying a tax hike on the wealthy will hurt the economy. >>> today,...
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you get a fiscal cliff deal, you'll have tax increases and spending cuts. they'll cut 1%, 1.5% off gdp. that's not good for stock market in 2013. you don't get a deal, you get mandatory spending cuts that will be worse. meantime, there are shorter term worries. how about getting through today? how do you go long or short here today when over the weekend anybody -- i mean almost anybody, can appear on a sunday talk show and make some inflammatory comment about the fiscal cliff not working, it's a mess, it's never going to happen and then you wake up and you're down 15 points monday morning. that's a problem figuring out what to do over the weekend. it could go the other way. generally it's a little bit more on the gloomy side. then you have the problem with december. we're going into the last month. today is the last day of november. people are behind the curve. a shocking number of people i spoke to are below whatever their benchmark is. do you lighten up? do you stay long what you got? it's hard to maneuver around because you need to get outperformance. yo
you get a fiscal cliff deal, you'll have tax increases and spending cuts. they'll cut 1%, 1.5% off gdp. that's not good for stock market in 2013. you don't get a deal, you get mandatory spending cuts that will be worse. meantime, there are shorter term worries. how about getting through today? how do you go long or short here today when over the weekend anybody -- i mean almost anybody, can appear on a sunday talk show and make some inflammatory comment about the fiscal cliff not working, it's...
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in the next half hour, we'll talk about the prospect for a fiscal cliff deal with california's democratic congressman xavier becerra. >>> the rain and flooding are relentless in northern california. four storms in less than a week left at least one death now attributed to those storms. and more rain is expected today. let's get right to meteorologist rob marciano. he is following it all from the cnn weather center in atlanta. good morning. >> good morning, zoraida. this is the worst stretch of storms that northern california has seen really in about two years. another punch today then we'll set up for a dry trend. the good news is that it has been dry so the ground, even though we've seen a lot of major flooding, the ground has absorbed a fair amount of it. seattle to portland, rain right now. snow at the highest elevations, and the rain will eventually push down into san francisco and sacramento later on today. this system is actually messing up the atmosphere and creating a lot of warmth across much of the country. if you live anywhere east of the rockies, actually anywhere east of the
in the next half hour, we'll talk about the prospect for a fiscal cliff deal with california's democratic congressman xavier becerra. >>> the rain and flooding are relentless in northern california. four storms in less than a week left at least one death now attributed to those storms. and more rain is expected today. let's get right to meteorologist rob marciano. he is following it all from the cnn weather center in atlanta. good morning. >> good morning, zoraida. this is the...
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timothy geithner saying we'll have a fiscal cliff deal, but then listen to what speaker john boehner said today. >> right now i would say we're nowhere. period. we're nowhere. we have put a serious offer on the table by putting revenues to try to get this question resolved. but the white house has asked for more revenue than they have been asking for the entire time. >> so how do you treat the gop in this matter? how much leverage does the gop have? >> they have next to none. you look at the results of the election and where they are now, the white house and the president have done a masterful job of making clear what's going on here. the republicans and the house of representatives are holding 98% of american taxpayers hostage to get bush's tax cuts for the wealthiest to be permanent. that's what's going on here. the polls show people are going to blame the republicans if this happens. speaker boehner talks about a serious proposal. they are going to take away loopholes that help middle class taxpayers. that's not a serious proposal. the only way they are going to get the deficits d
timothy geithner saying we'll have a fiscal cliff deal, but then listen to what speaker john boehner said today. >> right now i would say we're nowhere. period. we're nowhere. we have put a serious offer on the table by putting revenues to try to get this question resolved. but the white house has asked for more revenue than they have been asking for the entire time. >> so how do you treat the gop in this matter? how much leverage does the gop have? >> they have next to none....
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president obama giving his pitch for the fiscal cliff. when will the rhetoric give way to a real action on our debt crisis. juan williams on when a deal can happen. melissa: how would you like to pay more at the pump? we have the new talk about raising the gas tax. what a great idea. lori: i love paying over four dollars a gallon. washington not the only one that cannot get a deal done. entering day 76. its small business that is really on then ice. melissa: time now for stocks as we do every 15 minutes. lauren simonetti. washington is playing politics over the fiscal cliff. we are near session lows right now. >> 11 points away from session lows. the dow is clinging onto that level right now. consumer discretionary is your best performing sector this month. it is lower today, as is technology. the s&p 500 trying to hang onto a monthly gain. not sure if we can do it. certainly higher for the week and nasdaq higher for the both of them. a two-day chart of yelled is really interesting. they expect fourth-quarter sales in china to decline. lo
president obama giving his pitch for the fiscal cliff. when will the rhetoric give way to a real action on our debt crisis. juan williams on when a deal can happen. melissa: how would you like to pay more at the pump? we have the new talk about raising the gas tax. what a great idea. lori: i love paying over four dollars a gallon. washington not the only one that cannot get a deal done. entering day 76. its small business that is really on then ice. melissa: time now for stocks as we do every...
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to avoid the fiscal cliff? i mean that would be so unpopular across the nation. >> you would -- if you can take an action that would solve the problem for 98% of the country and then come back to the debate about the wealthiest 2%, let's get that first chunk done. republicans fear they could lose leverage if they cave in on the middle-class issue. apparently the president, his team has made increased demand here including, a provision now, part of the negotiations where, the congressional control over the debt limit would go away. and congress does not like to have its power take any way. so maybe the white house, upped the ante and played the stronger card and has republicans balking, according to reporting by "the washington post." that's a new element, all of that, that could prove interesting because it's stripping congressional control. and we just had the big debate over the debt ceiling. >> exactly. >> interesting. the clock is ticking, fellows, for sure. >>> speaking of money, extending jobless benefits
to avoid the fiscal cliff? i mean that would be so unpopular across the nation. >> you would -- if you can take an action that would solve the problem for 98% of the country and then come back to the debate about the wealthiest 2%, let's get that first chunk done. republicans fear they could lose leverage if they cave in on the middle-class issue. apparently the president, his team has made increased demand here including, a provision now, part of the negotiations where, the congressional...
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our theme song today is will we get a fiscal cliff deal done? and i appreciate the music and hopefully we'll hear some sweet music from congress about this. getting down to the wire, guys. >> wow. i don't even know where to start. >> don't stop. keep going. >> please stop. please stop. >> i had a lot of sugared cereal for breakfast this morning. >> references -- he's great is what he is. >> a deejay? you're a deejay? >> a guy throwing around references coming off wilkos like that is aok can me. >> movie anchorman today, sullivan. >> stop it. >> so, brian sullivan international, what exactly does san diego mean in german and, secondly -- >> it's an ancient german word. >> my god. >> and, secondly, brian sullivan international, what do the futures look like right now based on the distressing opening salvo yesterday between tim geithner and republican leaders? >> mika can't hide behind the book. they don't look like much. they're flat to slightly down. everybody is in wait-and-see mode here. there's a story out that mitch mcconnell burst out laughi
our theme song today is will we get a fiscal cliff deal done? and i appreciate the music and hopefully we'll hear some sweet music from congress about this. getting down to the wire, guys. >> wow. i don't even know where to start. >> don't stop. keep going. >> please stop. please stop. >> i had a lot of sugared cereal for breakfast this morning. >> references -- he's great is what he is. >> a deejay? you're a deejay? >> a guy throwing around references...
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could not have this anxiety leading up to the fiscal cliff. he is exacerbated the anxiety with the ridiculous plan. mitch mcconnell does not show emotion about anything ever. he has the best poker face. geithner's proposal must have been absurd that he laughed out loud would have been fan tast tic to see. >> andrea: there is a second stimulus. all spending and taxing. how would you feel if the republicans walked away? something you celebrate? >> bob: if they walked away permanently celebrate it particularly. look, the republicans, the question i've got here is why are you putting at risk all the things you talk about? the recession and the dire things, for the sake of people at the top 2%. i don't understand that. >> eric: you are not being fair. >> bob: what do you mean? >> eric: that there will be a recession if they don't allow tax rates up on the top 2%. >> no. >> if everybody got tax increase and everything expired. you said we are going to the recession. that is probably true. but, if you are willing to let that happen for sake of the to
could not have this anxiety leading up to the fiscal cliff. he is exacerbated the anxiety with the ridiculous plan. mitch mcconnell does not show emotion about anything ever. he has the best poker face. geithner's proposal must have been absurd that he laughed out loud would have been fan tast tic to see. >> andrea: there is a second stimulus. all spending and taxing. how would you feel if the republicans walked away? something you celebrate? >> bob: if they walked away permanently...
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and washington is playing fiscal with the fiscal cliff. -- playing chicken with the fiscal cliff. this deal will only get done by president obama and john boehner making a deal. they came close in the summer of 2011. the parties are so polarized and partisans polarized this is a problem. >> i keep saying we need a presidential historian or hostage negotiator. somebody could say we've been at stalemates before, gotten over it, shut down the government in '96. tip o'neill and ronald reagan managed to solve problems and get along. listen to what john mccain said about what we need here. >> it's time now to sit across the table from one another, rather than -- in the way they did with ronald reagan and the way you get things done in washington. >> the way they did with ronald reagan and get things done in washington. you sit together and figure it out. they were at a holiday party they didn't talk to each other. they're issuing sort of statements and rebuttals and saying i'm not going to budge. >> negotiation by press release. this is not how things get done in washington and part of
and washington is playing fiscal with the fiscal cliff. -- playing chicken with the fiscal cliff. this deal will only get done by president obama and john boehner making a deal. they came close in the summer of 2011. the parties are so polarized and partisans polarized this is a problem. >> i keep saying we need a presidential historian or hostage negotiator. somebody could say we've been at stalemates before, gotten over it, shut down the government in '96. tip o'neill and ronald reagan...
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Dec 6, 2012
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less than a month remains for lawmaker to reach a deal before the fiscal cliff deadline. the whitehouse open sists tax rates must rise on higher incomes in order to balance spending cuts but republican leadership remains committed to extending the bush tax cuts for all a tax bracket. brainer offer his response to the president. in an interview with julianna goldman of bloomberg news obama called the boehner plan quote out of balance. >> i think that we have the potential of getting a deal done, but it's going to require what i talked about during the campaign which is a balanced responsible approach to deficit reduction that can help give businesses certainty and make sure that the country grows. and unfortunately the speaker's proposal right now is still out of balance. he talks for example about $800 billion worth of revenues but he says he's going to do that by lowering rates. when you look at the math, it doesn't work. >> rose: and here is the president talking about why it's essential for him that there be tax increases for the most wealthy among us. >> i don't think
less than a month remains for lawmaker to reach a deal before the fiscal cliff deadline. the whitehouse open sists tax rates must rise on higher incomes in order to balance spending cuts but republican leadership remains committed to extending the bush tax cuts for all a tax bracket. brainer offer his response to the president. in an interview with julianna goldman of bloomberg news obama called the boehner plan quote out of balance. >> i think that we have the potential of getting a deal...
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fiscal cliff. that's the package of tax increases for most americans and budget cuts that will hit automatically unless the white house and congress find a gentler way to solve the crisis in the federal budget. here's how treasury secretary tim geithner put it on cnbc. >> is the administration prepared to go over the fiscal cliff? >> absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans. ren, it's only 2%. >> pelley: by 2% he means individuals making more than $200000 and couples taking in 250,000 or more. republicans say rates shouldn't be increased on anyone. with no agreement, going over the fiscal cliff would be painful. the automatic tax increases break down like this: households making $20,000 to $4,000 would see an increase in $1,200 a year. incomes of $40,000 to $64,000 would see taxes rise $2,000 and in the $64,000 to $108,000 bracket taxes go up $3,500 a year. mr. obama and the republican speaker of the house ta
fiscal cliff. that's the package of tax increases for most americans and budget cuts that will hit automatically unless the white house and congress find a gentler way to solve the crisis in the federal budget. here's how treasury secretary tim geithner put it on cnbc. >> is the administration prepared to go over the fiscal cliff? >> absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans. ren, it's only 2%....
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whenever you hear members of congress talk about any kind of fiscal cliff deal you have to approach it with a sort of believe everything and believe nothing attitude. i think that everybody wants to avoid having taxes go up for all americans as of january 1st but everybody has a price for that. and it, to me, it's about whether or not both sides are looking for a win-win deal, meaning, my opponent wins and i win. or whether both sides or one of the sides are looking for a deal where only i win and you lose and on top of all of that then we have to look at what do they want to include in any sort of deal? are we going to address entitlement reform? are we going to cut spending? are we only trying to deal with the tax cut issue? will we try to address the debt ceiling issue? so there are a lot of moving parts here. jon: it seems the campaign promise of the president to raise taxes on couples making over $250,000 a year, it seems like that almost has to come true in some form for the president and the democrats to swallow a deal? >> i think so. i think the president has been committed to
whenever you hear members of congress talk about any kind of fiscal cliff deal you have to approach it with a sort of believe everything and believe nothing attitude. i think that everybody wants to avoid having taxes go up for all americans as of january 1st but everybody has a price for that. and it, to me, it's about whether or not both sides are looking for a win-win deal, meaning, my opponent wins and i win. or whether both sides or one of the sides are looking for a deal where only i win...
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cliff." the deadline is at the end of the month but lawmakers may only have a couple of weeks to get a deal done. danielle nottingham reports now from washington. >> reporter: washington is driving toward the "fiscal cliff" and with just 29 days left, negotiations are at a stalemate. >> right now i would say we're nowhere. >> reporter: taxes continue to be the line in the sand between democrats and republicans. >> there is no path to an agreement that does not involve republicans acknowledging that rates have to go up for the wealthiest. >> reporter: gop lawmakers don't want higher rates and say the obama administration's proposed cuts to entitlements don't go far enough. >> i think we're going over the cliff. it's pretty clear to me they have made a political calculation. this offer doesn't remotely deal with entitlement reform in a way to save medicare and medicaid and social security from bankruptcy. >> reporter: if a deal is not reached, taxes go up and spending will be clashed. defense c
cliff." the deadline is at the end of the month but lawmakers may only have a couple of weeks to get a deal done. danielle nottingham reports now from washington. >> reporter: washington is driving toward the "fiscal cliff" and with just 29 days left, negotiations are at a stalemate. >> right now i would say we're nowhere. >> reporter: taxes continue to be the line in the sand between democrats and republicans. >> there is no path to an agreement that does...
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. >>> and is this what the fiscal cliff deal has come to? why 81-year-old former senator alan simpson is going gangnam style to get everyone's attention on debt. >> it has officially jumped the shark. >>> alan st. pierre is the executive director for the national,or for the reform of marijuana laws. oregon senator jeff merkley, heidi ewing, and rachel grady will be joining us. steve satich, ohio congressman, steve latourette, and ambassador nick burns are our guests this morning. it's thursday, december 6th, and "starting point" begins right now. >>> welcome, everybody. our starting point this morning, some major developments to tell you about in egypt, after angry protests against political moves by the president, mohamed morsi, have turned deadly. tanks, armored personnel vehicles, all stationed outside the presidential analysis cairo. not only are they guarding the palace, they're also keeping apart supporters and opponents of morsi. hundreds of his islamist supporters already taking to the streets in cairo this morning. opponents are gat
. >>> and is this what the fiscal cliff deal has come to? why 81-year-old former senator alan simpson is going gangnam style to get everyone's attention on debt. >> it has officially jumped the shark. >>> alan st. pierre is the executive director for the national,or for the reform of marijuana laws. oregon senator jeff merkley, heidi ewing, and rachel grady will be joining us. steve satich, ohio congressman, steve latourette, and ambassador nick burns are our guests this...
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but going over the fiscal cliff is serious business. >> reporter: any real deal-making is the stuff of quiet conversations and meetings. rob neighbors used the language of high-stakes diplomacy to respond to john boehner's complaint >> i thought the conversation was very direct. and as always, i appreciate directness. >> reporter: while the senate majority leader, harry reid, was very blunt about being pessimistic. >> i don't understand his brain, you should ask him. >> reporter: visiting their nation's capitol today, mixed expectations from tourists from georgia and texas >> i hope they get it, more than i did before the election. >> of course i'm nervous, you never know what politicians are going to do. >> reporter: democrats, still lifted by their election success, argued that voters chose higher tax rates for wealthy americans as part of any plan to cut the deficit. and say republicans will have to give in. >> did speaker john boehner get the message? because the message was work together. >> they're not going to openly concede on this point this far out from the deadline, but they
but going over the fiscal cliff is serious business. >> reporter: any real deal-making is the stuff of quiet conversations and meetings. rob neighbors used the language of high-stakes diplomacy to respond to john boehner's complaint >> i thought the conversation was very direct. and as always, i appreciate directness. >> reporter: while the senate majority leader, harry reid, was very blunt about being pessimistic. >> i don't understand his brain, you should ask him....
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. >>> the effort to reach a deal on the fiscal cliff is now a two-man operation. president obama and speaker boehner. thank you. nobody else will be in the room. with 24 days before a year-end deadline, "the new york times" says boehner made the request to clear the negotiation room going forward, leaving it up to himself and the president to reach a deal to avoid automatic tax hikes and deep spending cuts. and while the two men may be negotiating privately, yesterday the president took his mess dwrooj the public, visiting a local virginia family as a part of his social media campaign. while sitting around the kitchen table, he told the family he felt optimistic. >> the message that i think we all want to send to members of congress is this is a solvable problem. the senate has already passed a bill that would make sure the middle class taxes do not go up next year by a single dime. just to be clear, i'm not going to sign any package that somehow prevents the top rate from going up for folks at the top 2%, but i do remain optimistic that we can get something done
. >>> the effort to reach a deal on the fiscal cliff is now a two-man operation. president obama and speaker boehner. thank you. nobody else will be in the room. with 24 days before a year-end deadline, "the new york times" says boehner made the request to clear the negotiation room going forward, leaving it up to himself and the president to reach a deal to avoid automatic tax hikes and deep spending cuts. and while the two men may be negotiating privately, yesterday the...
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they are nowhere near a deal to avoid the so-called fiscal cliff. peter doocy is life in washington with more. >> republicans have had their proposal to avoid the fiscal cliff complete with 800 billion of new revenue over a decade on the table for more than a day now. it has yet to be publicly embraced by the slightest bit by any prominent democrats. because of that gop lawmakers are saying that means the white house wants to go over the fiscal cliff to make it a point. >> howard dean said it patti murray who ran the senator ideal committee. i think the presidency is a political victory for his party as they go over the cliff. i know republicans are concerned there is going to be a secondary session. >> the white house proposal raises taxes 1.6 trillion over a decade. republicans close loopholes and get rid of deductions. they say the mast won't work. >>> it is still out of balance. it is 800 million worth of revenues. he said he is going to do that by lowering rates. when you look at the map it doesn't work. >> the house majority with kevin mccarth
they are nowhere near a deal to avoid the so-called fiscal cliff. peter doocy is life in washington with more. >> republicans have had their proposal to avoid the fiscal cliff complete with 800 billion of new revenue over a decade on the table for more than a day now. it has yet to be publicly embraced by the slightest bit by any prominent democrats. because of that gop lawmakers are saying that means the white house wants to go over the fiscal cliff to make it a point. >> howard...
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sure that we don't over the fiscal cliff, don't shift the burden downward. we understand that there is a shared sacrifice. we ask for flexibility when it comes to programs that are funded by the federal government and federal monies. we need flex ability to be able to determine what is in the best interest of our state. how we can best serve the population. gerri: the truth is the states only have so much flex ability because you have to meet your budget. the federal government doesn't. but i want to show who is in washington. it was scott walker, gary herbert, mark dayton, jack markell. all the leadership of the governors association. what kind of response did you get? we are not passing anything onto you guys. >> the president was very cordial and respectful to the governors. and we believe that we have a stake in this process, and he felt like we could offer some ideas of ways that we could help with savings and efficiencies and state government and federal government also. but he also said that they would have to meet his goals and ideas. leader harry re
sure that we don't over the fiscal cliff, don't shift the burden downward. we understand that there is a shared sacrifice. we ask for flexibility when it comes to programs that are funded by the federal government and federal monies. we need flex ability to be able to determine what is in the best interest of our state. how we can best serve the population. gerri: the truth is the states only have so much flex ability because you have to meet your budget. the federal government doesn't. but i...
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of how the fiscal cliff gets resolved. in the end, they have got not much. they can say they have a mandate so it's equal, but it really isn't and they know that. >> we seem to know as much about mitt romney's taxes as we do about the loopholes republicans are willing to close in this. they can't offer any specifics. is this a turnoff for the people? >> in fairness we have to recognize that there's been a lack of specifics on both sides here. they are negotiating in public. you notice that that's how this stuff is coming out. it's not phone calls between the two sides or closed-door meetings. we don't know what spending democrats would cut and we haven't even begun the entitlements discussion, which the president is theoretically open to. so there's a lot that still needs to happen. i mean for you and me and normal people, three weeks away may seem like a short time, but there's a feeling that this has barely even begun. >> here's senator bob corker and clairk mccaskill. here it is. >> great detail, very painful cuts to me
of how the fiscal cliff gets resolved. in the end, they have got not much. they can say they have a mandate so it's equal, but it really isn't and they know that. >> we seem to know as much about mitt romney's taxes as we do about the loopholes republicans are willing to close in this. they can't offer any specifics. is this a turnoff for the people? >> in fairness we have to recognize that there's been a lack of specifics on both sides here. they are negotiating in public. you...
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we can make the fiscal cliff issue go away if he says let's extend the tax cuts for everybody. it is going to be a patchwork. it is not a permanent deal. just do it and talk about it. >> despite the concerns about going over the cliff we should let you know that december is actually a winning month for stocks. stocks are up 2% on average in december since 1990 with utilities and industrials leading the gain. should you be betting with history or maybe this time is different? the data mattas. they have a 2.8% gain in the month of december. >> what happened last year? last year we were dealing with europe was the front part of this burner of policy. the esm was established. it looked like we were in a place where we could get systemic risk off the table. markets were facing heavy flows of deleveraging. i think the fiscal cliff we are spending a lot of time on and we will continue to see deleveraging of trades that have worked because of all of the tax implications. i don't think you can be sure this is the same santa claus rally that you want to blindly buy. last year was very pa
we can make the fiscal cliff issue go away if he says let's extend the tax cuts for everybody. it is going to be a patchwork. it is not a permanent deal. just do it and talk about it. >> despite the concerns about going over the cliff we should let you know that december is actually a winning month for stocks. stocks are up 2% on average in december since 1990 with utilities and industrials leading the gain. should you be betting with history or maybe this time is different? the data...
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elsewhere, with only four weeks to go before we reach that fiscal cliff, republicans offer a proposal for a new deal. it had few specifics. the white house rejected it. tracie potts joins us from washington with the details. >> reporter: good morning, everyone. with a white house proposal and republican proposal on the table, you'd think we would have somewhere to begin negotiations. the white house says what republicans have offered isn't even a start. six governors, democrats, and republicans weigh in on the fiscal cliff today. what will they tell president obama about the spending cuts and tax increases now just 28 days away? >> we must reign in our out of control spending. >> reporter: republicans have an offer, $800 billion in new taxes, half what the president wanted. $600 billion saved in part by making americans wait until they're 67 to get medicare. plus more cuts totalling $2.2 trillion. but no tax hikes for the wealthy. >> that's just not going to happen. >> reporter: the pentagon could take the biggest hit from president obama told defense experts monday, don't worry. >> e
elsewhere, with only four weeks to go before we reach that fiscal cliff, republicans offer a proposal for a new deal. it had few specifics. the white house rejected it. tracie potts joins us from washington with the details. >> reporter: good morning, everyone. with a white house proposal and republican proposal on the table, you'd think we would have somewhere to begin negotiations. the white house says what republicans have offered isn't even a start. six governors, democrats, and...
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. >>> back here at home, issue number one is reaching a deal on that fiscal cliff. just 31 days left until we hit those $7 trillion in automatic spending cuts and tax increases if negotiations break down. and both sides of the aisle are going straight to the public in order to plead their case, or rather tell us why the other side is to blame. this is president obama in his weekly radio address. >> both parties say we should keep middle class taxes low. the senate has already passed a bill to keep income taxes from going up on middle class families. democrats in the house are ready to do the same thing. and if we can just get a few house republicans onboard, i'll sign this bill as soon as congress sends it my way. but it's unacceptable for some republicans in congress to hold middle class tax cuts hostage simply because they refuse to let tax rates go up on the wealthiest americans. >> in the republican response, senator orrin hatch takes th s hostage metaphor one step further and brings to mind a memorable movie scene. >> unfortunately, some on the other side of th
. >>> back here at home, issue number one is reaching a deal on that fiscal cliff. just 31 days left until we hit those $7 trillion in automatic spending cuts and tax increases if negotiations break down. and both sides of the aisle are going straight to the public in order to plead their case, or rather tell us why the other side is to blame. this is president obama in his weekly radio address. >> both parties say we should keep middle class taxes low. the senate has already...
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avoiding the fiscal cliff. mr. obama and house speaker john boehner took a step yesterday, speaking about the standoff on the phone. i guess at least they weren't texting, right? while the details of their chat remain private, both men continued to talk past each other in public. >> let's allow higher rates to go up for the top 2%. >> there are ways to limit deductions, close loopholes, and have the same people pay more, more of their money to the federal government, without raising tax rates, which we believe will harm our economy. >> treasury secretary tim geithner also weighed in yesterday saying the president is willing to allow the nation to go over the cliff if republicans don't agree to raise taxes on the wealthy. >>> we are learning new details about colorado's shooting suspect james holmes now that thousands of e-mails in the case have been released. messages indicate holmes may have had a brief romantic relationship in the days before the tragedy. we have learned that in early june, holmes began speci
avoiding the fiscal cliff. mr. obama and house speaker john boehner took a step yesterday, speaking about the standoff on the phone. i guess at least they weren't texting, right? while the details of their chat remain private, both men continued to talk past each other in public. >> let's allow higher rates to go up for the top 2%. >> there are ways to limit deductions, close loopholes, and have the same people pay more, more of their money to the federal government, without raising...
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cliff. white house negotiators head to capitol hill today. they're going to sit down with congressional leaders and talk about specific proposals from both sides for an agreement to avoid the fiscal cliff. nbc's tracie potts joins from us washington with those details. tracie, good morning. >> reporter: lynn, good morning. so, it may be no deal today, but perhaps moving forward on these spending cuts and tax increases that are looming at the end of the year. some very specific meetings with a handful of lawmakers who could have a huge impact on your paycheck come january 1st. . treasury secretary tim geithner and white house legislative chief rob neighbors bring the president's deficit-cutting plan to capitol hill today. >> i am very open to a fair and balanced approach to reduce our deficit. >> reporter: republicans want to know, does that approach include the government spending less money? >> we've put revenue on the table, as long as it's accompanied by serious spending cuts. >> reporter
cliff. white house negotiators head to capitol hill today. they're going to sit down with congressional leaders and talk about specific proposals from both sides for an agreement to avoid the fiscal cliff. nbc's tracie potts joins from us washington with those details. tracie, good morning. >> reporter: lynn, good morning. so, it may be no deal today, but perhaps moving forward on these spending cuts and tax increases that are looming at the end of the year. some very specific meetings...